Huge Sell from Bitcoin Whales: Market Under Pressure

This week, the Bitcoin market has been experiencing remarkable activity. Large investors, known as whales, sold more than 40,000 BTC, totaling approximately $4.3 billion. These sales indicate increasing selling pressure as the Bitcoin price approaches $110,000.

Liveliness Surge: Are Long-Term Investors Selling?

According to blockchain data, there is a noticeable increase in the "Liveliness" metric. This metric usually indicates that long-term investors (LTH) have started to move their assets. The movement of LTHs strengthens the selling trend and contributes to the bearish pressure on the market.

Bitcoin Struggle to Hold on to Critical Level

Bitcoin is currently testing the $108,000 level as support. If this level cannot be maintained, the price could pull back to $105,622 and then $102,734 respectively. This scenario becomes more likely, especially if whales continue to sell and LTHs increase profit taking.

Fast Emptying of Whale Wallets

Large wallets holding between 1,000 and 10,000 BTC have been actively selling in recent days. The 40,000 BTC sale that took place last week alone suggests that there is doubt among whales about the sustainability of the rally.

Such large sell-offs put significant supply pressure on the market and could limit price upside. If this trend continues, Bitcoin’s short-term recovery efforts could be hampered.

Could BTC Surpass $110,000?

Bitcoin has risen by 7% in the past 24 hours to reach $108,145. It is currently attempting to establish a permanent support level at $108,000. However, the ongoing whale sell-off and changes in long-term investor behavior increase the risk of this support being broken.

If selling pressure eases and institutional demand continues to increase, Bitcoin could potentially break out of the $109,476 resistance. Breaking this level would re-open the $110,000 target and invalidate the current bearish scenario, giving the market renewed bullish momentum.


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